Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Indian Railways is planning to procure over 1.1mn mt of steel from the Steel Authority of India (Sail) for track renewal and laying railway lines across the country as a part of rapid rail expansion, according to media reports. 

In 2018-19, the Indian Railways had procured 1.04mn mt steel from the state-owned steelmaker which increased to 1.385mn mt in 2019-20. The consumption had declined in 2020-21 to 1.07mn mt  due to disruptions caused by the COVID-19 pandemic. 

The bulk order is yet to be finalised, but it is expected to be more than that of the prior year due to higher allocation as well as increased capex of Rs2,150bn.

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